Tenancy & Accommodation
| Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x. |
Reviews/(Reversions) |
| 1 |
Ground |
Betting Shop |
85.10 sq m |
(916 sq ft) |
LADBROKES BETTING & GAMING LIMITED (1) |
15 years from 24/06/2003 |
£24,000 |
(23/06/2018) |
| 2 |
Ground & First |
Public House |
557.97 sq m |
(6,006 sq ft) |
H J CYFYNGEDIG (t/a Set The Bar) with guarantee |
6 years from 29/10/2014 |
£20,000 (2) (3) |
(28/10/2020) |
| 3 |
Ground
First |
Hot Food
Takeaway |
85.10 sq m
77.48 sq m |
(916 sq ft)
(834 sq ft) |
Y Y LEE (t/a Rainbow Express Chinese) |
15 years from 27/02/2004 |
£22,500 |
(26/02/2019) |
| 4 |
Ground
First |
Retail |
75.25 sq m
65.96 sq m |
(810 sq ft)
(710 sq ft) |
J & M EASTHAM (t/a The News Stop) |
12 years from 26/09/2012 (4) |
£15,000 |
26/09/2015 & three yearly
(25/09/2024) |
| Kiosk 1 |
Ground |
Retail |
32.61 sq m |
(351 sq ft) |
S J LAND (t/a Grand Milano Café) |
3 years from 05/09/2012 |
£7,000 |
(04/09/2015) |
| Kiosk 2 |
Ground |
Retail |
33.35 sq m |
(359 sq ft) |
J & M EASTHAM (6) |
12 years from 26/09/2012 |
£8,500 |
26/09/2015 & three yearly
(25/09/2024) |
| Kiosk 3 |
Ground |
Retail |
32.14 sq m |
(346 sq ft) |
THE HAIR STATION (WXM) LTD |
15 years from 21/10/2005 (5) |
£8,000 |
21/10/2015
(20/10/2020) |
| Totals |
|
1,044.96 sq m |
(11,248 sq ft) |
|
|
£105,000 (2) |
|
(1) For the year ending 31st December 2013, Ladbrokes Betting & Gaming Limited reported a turnover of £818,578,000, pre-tax profits of £87,693,000 and a total net worth of £994,620,000. (Source: www.riskdisk.com 08/04/2015)
(2) As to Unit 2, the lease provides for fixed increases in rent. From 29th October 2014 the unit produces £17,500 p.a.x., from 29th October 2015 the rent will increase to £20,000 p.a.x., from 29th October 2016 the rent will increase to £28,000 p.a.x., from 29th October 2017 the rent will increase to £29,000 p.a.x., from 29th October 2018 the rent will increase to £30,000 p.a.x. The seller will pay the buyer the difference between the current rent reserved and £20,000 per annum exclusive from completion of the sale until 29th October 2015. Therefore Unit 2 will produce £20,000 p.a.x. from completion of the sale.
(3) As to Unit 2, the seller is holding a £3,750 rent deposit.
(4) As to Unit 4, the lease provides for a tenant option to determine the lease on 26th September 2018 and the seller is holding a £9,000 rent deposit.
(5) As to Kiosk 3, the tenant has exercised the option to determine the lease on 21st October 2015 and is subject to a schedule of condition. The seller is holding a £2,937.50 rent deposit.
(6) As to Kiosk 2, the tenant has sublet the property.
